How to Rent an Apartment or House
The rental markets in many cities are cyclical: a few boom years with renters scrambling for any available studio followed by a glut in availability. In either scenario, the most desirable rental units are snapped up the quickest. Do your homework, then hit the pavement
Conduct the search
- 1Be prepared: Create a renter's re'sume' with your current and previous five addresses and landlord phone numbers, your employer and length of employment, your current salary and other income, personal references, among other information. Include a copy of your credit report. You want to look as good on paper as possible to stand out from other applicants.
- 2Look in the newspaper classifieds, apartment hunter publications, college campus bulletin boards, and online for available units to investigate. Ask friends about openings in their buildings.
- 3Consider how much you can afford to pay. A good rule of thumb is no more than 30 percent of your take-home monthly income.
- 4Enlist a rental agent to narrow your search. Depending on the market, this service may be free (paid for by landlords) or cost you a percentage of your rent when you land the apartment.
- 5Turn to a roommate service if you're looking for cheaper space to share. Be clear what qualities you desire in a roommate, as well as types of people or habits you'd prefer to avoid, such as smokers.
Case the joint
- 1Inspect the property carefully. If there's any damage, you not only want to ask that it be fixed, but don't want to be blamed for it later. Make sure such problem areas are addressed in a lease, either by your agreeing to live with it, or the landlord agreeing to fix it by a certain date.
- 2Check out common walls (walls shared with adjoining apartments). The more walls in common, the greater the chance of noise from next door. Also consider a common entrance in terms of how much privacy you may want.
- 3Ask about amenities such as enclosed parking or a garage, a yard, storage, laundry facilities, pool, tennis, gym or concierge services.
Negotiate the deal
- 1If you find an apartment you love but is a stretch financially, ask if there are responsibilities you can take on to lower your rent, such as cutting the lawn, sweeping common areas or taking deliveries. Or if you find a great apartment but it lacks services such as utilities, laundry facilities, cable TV and Internet access, ask the landlord to throw some in at no charge. Many newer buildings will. Or offer to sign a longer-term lease or give a higher security deposit in exchange for more services.
- 2Examine your lease in detail: How much notice is required prior to moving, how large a deposit you have to make, how much cleaning is required upon leaving to get your deposit back, and other provisions. Some agreements require first and last months' rent plus a security deposit--a significant chunk of change. Is the lease month to month, or a 6- or 12-month period?
- 3Find out what kinds of cosmetic changes you can make, such as painting walls, or structural changes, such as adding shelving.
- 4Ask for a lease with an option to buy if you'd be interested in purchasing the property down the line.
Apartments for rent
How to Rent an Apartment or House
- 1Be prepared: Create a renter's re'sume' with your current and previous five addresses and landlord phone numbers, your employer and length of employment, your current salary and other income, personal references, among other information. Include a copy of your credit report. You want to look as good on paper as possible to stand out from other applicants.
- 2Look in the newspaper classifieds, apartment hunter publications, college campus bulletin boards, and online for available units to investigate. Ask friends about openings in their buildings.
- 3Consider how much you can afford to pay. A good rule of thumb is no more than 30 percent of your take-home monthly income.
- 4Enlist a rental agent to narrow your search. Depending on the market, this service may be free (paid for by landlords) or cost you a percentage of your rent when you land the apartment.
- 5Turn to a roommate service if you're looking for cheaper space to share. Be clear what qualities you desire in a roommate, as well as types of people or habits you'd prefer to avoid, such as smokers.
- 1Inspect the property carefully. If there's any damage, you not only want to ask that it be fixed, but don't want to be blamed for it later. Make sure such problem areas are addressed in a lease, either by your agreeing to live with it, or the landlord agreeing to fix it by a certain date.
- 2Check out common walls (walls shared with adjoining apartments). The more walls in common, the greater the chance of noise from next door. Also consider a common entrance in terms of how much privacy you may want.
- 3Ask about amenities such as enclosed parking or a garage, a yard, storage, laundry facilities, pool, tennis, gym or concierge services.
- 1If you find an apartment you love but is a stretch financially, ask if there are responsibilities you can take on to lower your rent, such as cutting the lawn, sweeping common areas or taking deliveries. Or if you find a great apartment but it lacks services such as utilities, laundry facilities, cable TV and Internet access, ask the landlord to throw some in at no charge. Many newer buildings will. Or offer to sign a longer-term lease or give a higher security deposit in exchange for more services.
- 2Examine your lease in detail: How much notice is required prior to moving, how large a deposit you have to make, how much cleaning is required upon leaving to get your deposit back, and other provisions. Some agreements require first and last months' rent plus a security deposit--a significant chunk of change. Is the lease month to month, or a 6- or 12-month period?
- 3Find out what kinds of cosmetic changes you can make, such as painting walls, or structural changes, such as adding shelving.
- 4Ask for a lease with an option to buy if you'd be interested in purchasing the property down the line.
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